To implement in depth the decisions and plans of the CPC Central Committee and the State Council and earnestly put in place the requirements of the meeting of the Financial Stability and Development Committee of the State Council, under the leadership of the Party Committee of CSRC, SZSE has improved its political stance, enhanced big-picture thinking and given full play to the functions and roles of the exchange as a market organizer, supervisor and service provider to promote pandemic control and economic and social development in a coordinated manner. Based on the actual needs of market entities, SZSE has launched a series of measures aimed to energize market entities and support the development of the real economy, thus maintaining the stable operation of the capital market.
Exempting SZSE-listed companies from certain fees. On March 18, SZSE released a notice saying that it would exempt SZSE-listed companies from the initial listing fee, the annual listing fee and the online voting service charges for general meetings of 2022. It’s a concrete action to put in place the national policy of cutting taxes and reducing fees and to support market entities coping with the COVID-19 and recovering faster. Since the beginning of the year, SZSE has exempted the listed companies based in Shaanxi Province, Henan Province and Tianjin from relevant fees for 2022. The expansion of the coverage of the fee reduction policy is another pragmatic measure of SZSE to support the COVID-19 pandemic control and the development of the real economy.
Providing frontline regulation and market services with a human touch. SZSE recently rolled out a string of warm, flexible regulatory service measures on the business lines of listing review and frontline regulation, to provide more support to enterprises which temporarily have production or operation difficulties. In terms of listing review, SZSE has actively responded to market entities’ reasonable requirements. Regarding intermediaries which are unable to reply to review questions, complete due diligence, etc. within specified time limit due to the impact of the pandemic, SZSE has approved their application for suspending review, thus giving issuers and intermediaries more time to prepare answers to the review questions. In terms of refinancing review, SZSE has strengthened online communication with issuers and intermediaries and made sure the refinancing review and services for enterprises affected by the pandemic are not interrupted or discounted. The micro and quick refinancing mechanism of the ChiNext Board maintains the “Shenzhen speed”. The time used by the recent eight micro and quick refinancing projects from acceptance to effectiveness of registration averaged only nine working days. In terms of company regulation, SZSE has learnt about the difficulties and requests of listed companies severely hit by the pandemic, supported listed companies postponing their disclosure of 2021 annual reports within the statutory period, and provided free platform support service for listed companies to hold online result announcement. In terms of fixed-income business, SZSE has continued to implement relevant policy for fixed-income products themed by pandemic control. Specifically, SZSE has efficiently facilitated speedy issuance of fixed-income products themed by pandemic control and allowed lead underwriters of corporate bonds or mangers of special plans to issue an explanation when relevant signature or seal cannot be obtained due to the pandemic and to submit such signature or seal later.
Next, SZSE will continue to conscientiously carry out the general principles of the Sixth Plenary Session of the 19th CPC Central Committee and the Central Economic Working Conference, study and understand deeply General Secretary Xi Jinping’s important speeches during the National People’s Congress and Chinese People’s Political Consultative Conference, and firmly implement the requirements of the meeting of the Financial Stability and Development Committee of the State Council. We will follow the plans and arrangements of the Party Committee of CSRC, further enhance political stance and strengthen duty performance. With the top priorities of the country in mind, we will act proactively and see every detail of work done properly. We will, with a firmer attitude, more effective measures and more active actions, work with market participants to maintain the healthy and stable development of the capital market.
